Victory Capital Management Inc. Acquires 32,893 Shares of Rush Enterprises, Inc. (NASDAQ:RUSHA)

Victory Capital Management Inc. increased its stake in Rush Enterprises, Inc. (NASDAQ:RUSHA) by 29.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,660 shares of the company’s stock after acquiring an additional 32,893 shares during the quarter. Victory Capital Management Inc. owned 0.18% of Rush Enterprises worth $6,057,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RUSHA. William Blair Investment Management LLC grew its stake in Rush Enterprises by 239.1% in the first quarter. William Blair Investment Management LLC now owns 794,375 shares of the company’s stock valued at $42,515,000 after acquiring an additional 560,138 shares during the period. Vanguard Group Inc. grew its position in Rush Enterprises by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 7,336,456 shares of the company’s stock valued at $369,024,000 after purchasing an additional 420,978 shares during the period. Norges Bank bought a new stake in Rush Enterprises during the 4th quarter valued at $20,954,000. Principal Financial Group Inc. raised its holdings in Rush Enterprises by 1,544.7% during the fourth quarter. Principal Financial Group Inc. now owns 336,876 shares of the company’s stock worth $16,945,000 after buying an additional 316,393 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Rush Enterprises by 25.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 984,492 shares of the company’s stock valued at $52,689,000 after buying an additional 198,240 shares in the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Insider Transactions at Rush Enterprises

In other Rush Enterprises news, COO Michael Mcroberts sold 12,500 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.72, for a total value of $634,000.00. Following the completion of the transaction, the chief operating officer now owns 15,220 shares in the company, valued at approximately $771,958.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William M. Rusty Rush sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $53.81, for a total value of $2,152,400.00. Following the transaction, the chief executive officer now owns 174,154 shares in the company, valued at $9,371,226.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michael Mcroberts sold 12,500 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $50.72, for a total value of $634,000.00. Following the completion of the sale, the chief operating officer now directly owns 15,220 shares of the company’s stock, valued at $771,958.40. The disclosure for this sale can be found here. Insiders have sold 64,875 shares of company stock worth $3,422,554 in the last 90 days. Insiders own 12.53% of the company’s stock.

Analyst Ratings Changes

Separately, Stephens began coverage on shares of Rush Enterprises in a research report on Monday, July 8th. They set an “overweight” rating for the company.

Rush Enterprises Stock Up 4.6 %

Shares of NASDAQ:RUSHA opened at $50.89 on Monday. The business’s 50 day moving average is $49.70 and its 200 day moving average is $47.68. Rush Enterprises, Inc. has a 12-month low of $34.68 and a 12-month high of $56.64. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.84 and a beta of 1.01. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.24.

Rush Enterprises (NASDAQ:RUSHA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.20. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.86 billion. Rush Enterprises had a net margin of 3.90% and a return on equity of 15.85%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 EPS. On average, sell-side analysts forecast that Rush Enterprises, Inc. will post 3.44 earnings per share for the current fiscal year.

Rush Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.72 annualized dividend and a dividend yield of 1.41%. This is a boost from Rush Enterprises’s previous quarterly dividend of $0.17. Rush Enterprises’s dividend payout ratio (DPR) is currently 18.18%.

Rush Enterprises Profile

Rush Enterprises, Inc, through its subsidiaries, operates as an integrated retailer of commercial vehicles and related services in the United States and Canada. The company operates a network of commercial vehicle dealerships under the Rush Truck Centers name. Its Rush Truck Centers primarily sell commercial vehicles manufactured by Peterbilt, International, Hino, Ford, Isuzu, IC Bus, Blue Bird, and Dennis Eagle.